Black workers have the lowest self-employment rate, according to a Gov UK survey.

In response, the Black Culture Market is hoping to “help close the wage gap, create more jobs and opportunities, and inspire more ownership”.

The Black Culture Market is a community of businesses that holds events for emerging Black entrepreneurs to trade, network, and pitch to the retail industry.

With the next market in Waterloo on 2 February, planners are hoping to “give entrepreneurs of all ages of African and Caribbean descent visibility for them to flourish and make cultural products more accessible”.

Black Culture Market enables London communities to learn more about African and Caribbean society.

Black Culture Market founder, Jen, says the event allows communities to “appreciate the richness of Black culture, foster understanding and break down stereotypes.

“The Black Culture Market can address social issues, promote positive change, and contribute to the overall well-being of the community.”

Despite the market’s focus on African and Caribbean culture, Jen feels representation of ethnic minorities will create a space for everyone “to connect, share experiences, and build a strong sense of community”.

Statistics released by the Black Culture Market found just 0.24% of capital in the UK goes to black entrepreneurs.

Akan Moringa owner, Richard Gaise, says he expanded his business to London after finding a lack of African representation in UK retail.

He believes “exciting and unique” African and Caribbean businesses need more equal opportunities and investment.

Akan Moringa is a small business selling teas made from a food plant found in South Africa.

He would like more ethnic minorities to experience what he describes as a “win-win-win situation”.

He explains, “People say have a job you enjoy, and for us this is it. We get to support the local South African farmers and communities while making a living and educating people.”

Business owners are hoping with more recognition, UK retail will embrace more Black culture and commerce.